Meeder Advisory Services Inc. Has $1.22 Million Position in Freeport-McMoRan Inc. (NYSE:FCX)

Meeder Advisory Services Inc. trimmed its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 0.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,067 shares of the natural resource company’s stock after selling 272 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Freeport-McMoRan were worth $1,221,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Mountaineer Partners Management LLC grew its holdings in Freeport-McMoRan by 4,767.8% during the 3rd quarter. Mountaineer Partners Management LLC now owns 11,933,126 shares of the natural resource company’s stock worth $595,702,000 after acquiring an additional 11,687,982 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Freeport-McMoRan by 237.4% during the fourth quarter. Wellington Management Group LLP now owns 9,218,518 shares of the natural resource company’s stock worth $351,041,000 after purchasing an additional 6,486,011 shares during the period. Amundi grew its stake in shares of Freeport-McMoRan by 30.2% in the fourth quarter. Amundi now owns 21,580,960 shares of the natural resource company’s stock worth $857,305,000 after purchasing an additional 5,001,531 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Freeport-McMoRan by 38.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 16,273,162 shares of the natural resource company’s stock valued at $619,682,000 after purchasing an additional 4,488,210 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in Freeport-McMoRan by 142.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 4,279,517 shares of the natural resource company’s stock worth $162,964,000 after purchasing an additional 2,515,103 shares during the last quarter. 80.77% of the stock is currently owned by institutional investors.

Freeport-McMoRan Stock Performance

Shares of Freeport-McMoRan stock opened at $38.17 on Thursday. The business has a 50-day simple moving average of $38.03 and a 200 day simple moving average of $41.89. The firm has a market capitalization of $54.85 billion, a price-to-earnings ratio of 29.59, a PEG ratio of 0.87 and a beta of 1.87. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.42 and a quick ratio of 1.18. Freeport-McMoRan Inc. has a one year low of $33.98 and a one year high of $55.24.

Freeport-McMoRan (NYSE:FCX) last issued its earnings results on Thursday, January 23rd. The natural resource company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. On average, research analysts anticipate that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Tuesday, April 15th. Freeport-McMoRan’s dividend payout ratio is currently 23.26%.

Wall Street Analyst Weigh In

FCX has been the subject of several recent research reports. BMO Capital Markets decreased their price target on Freeport-McMoRan from $54.00 to $50.00 and set an “outperform” rating for the company in a research note on Friday, January 24th. Jefferies Financial Group upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and raised their price target for the stock from $40.00 to $48.00 in a report on Thursday, February 27th. Scotiabank reduced their price objective on shares of Freeport-McMoRan from $48.00 to $45.00 and set a “sector perform” rating on the stock in a research note on Friday, January 24th. Dbs Bank upgraded shares of Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 10th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Freeport-McMoRan from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a report on Thursday, March 6th. Five investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Freeport-McMoRan has a consensus rating of “Moderate Buy” and a consensus target price of $52.04.

Freeport-McMoRan Profile

Freeport-McMoRan Inc engages in the mining of mineral properties in North America, South America, and Indonesia. It primarily explores for copper, gold, molybdenum, silver, and other metals. The company's assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Chino and Tyrone in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile.